Debt Trouble

trouble
Rep Points:

Posted on September 16, 2009 at 4:21 am

Debt trouble does not sound that menacing until you find yourself in one. You'll find out that it's not so light or so easy after all to get yourself out of it. So here are some signs that a consumer is in debt trouble:

-you are only able to pay the minimum and barely so
-you found yourself applying for another credit card and use cash advances from it to pay for another card
-you are seriously thinking about getting professional help

Pop-up Blocker
Rep Points:

Posted on September 16, 2009 at 4:50 am

*you are dipping into your savings and is thinking of touching your 401k or already have

Revived Paths
Rep Points:

Posted on September 16, 2009 at 4:53 am

signs of debt trouble:

collection calls!

rip offs
Rep Points:

Posted on September 16, 2009 at 5:01 am

Signs of debt trouble:

Your monthly mortgage payment (with property taxes and insurance) exceeds 28% of your gross monthly income

You don't have enough money to cover 6 months of living expenses.

customer no. 5
Rep Points:

Posted on September 16, 2009 at 5:03 am

Which ones are serious debt trouble (problems) and which ones are negligible?

Sorta like a dream, isn't it?
Rep Points:

Posted on September 16, 2009 at 5:38 am

I guess debt trouble should be taken seriously even if its just in the 'symptoms' phase. Debt trouble becomes a full blown debt problem when the creditors are already threatening to sue--which the consumer can prevent from happening.

think about cosmos
Rep Points:

Posted on September 16, 2009 at 5:40 am

You know that you have debt trouble when your credit card balances are rising but your income is decreasing.

The Question
Rep Points:

Posted on September 16, 2009 at 5:46 am

What should the consumer do when in debt trouble?

x and y
Rep Points:

Posted on September 16, 2009 at 5:53 am

It depends on what debt type is causing the consumer some trouble.

If it's of the unsecured kind, there are various debt relief programs that could help eliminate or solve those. It's a different story when the debt type is secured.

Destroydebt.com offers free consultation for consumers who can't deal with their debt trouble on their own - just fill out a form and a debt consultant would assist them in a short while.

this time (Guest)
Rep Points:

Posted on September 28, 2009 at 6:14 am

how can i get out of debt trouble if i am no longer working